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You might be angry over Bank Of America's checking fees but you shouldn't be surprised.

Image by AFP/Getty Images via @daylife

The Wall Street Journal reported today that BofA is "working on sweeping changes that would require many users of basic checking accounts to pay a monthly fee unless they agree to bank online, buy more products or maintain certain balances."

A BofA spokesperson says the fees are being tested in certain markets in order "to learn from those tests before we make any final decisions."

You might recall last year when BofA was toying with the idea of charging customers a $5 debit card fee. That didn't go over well with the public and the bank backtracked.

The fees mentioned in todays Journal story are related to basic checking accounts; $6 to $9 a month for an "Essentials" account while other account options being tested in some states carry monthly charges of $9, $12, $15 and $25, the Journal reports. Customers can avoid the fees by maintaining minimum balances, using a credit card or taking a mortgage with Bank of America.

This shouldn't come as shocking news to anyone paying attention to the banking industry recently which is struggling with flat or decreased revenue numbers. As a result, many of them are looking for new ways to make money. Bank of America, the nation's second largest bank by deposits, is no exception and has been testing new fees for over a year.

So before there's another round of outrage over bank fees it's important to understand why these fees are being imposed on consumers. As mentioned above, it hasn't been the best environment for banks in terms of revenue; interest rates are down meaning there's less money to be made off deposits and loans, and there are more regulations out there that are affecting the way banks make money.

Just a couple of examples of that: The Durbin Amendment which limits the amount banks can charge retailer for debit card swipe fees and the CARD Act which, among other things, keeps banks from charging overdraft fees. There's also news that the Consumer Finance Protection Bureau is re-visting the over draft issue-- it recently launched an inquiry asking banks for data about their overdraft practices.

BofA fourth quarter revenue was down by $400 million in part because of the Durbin Amendment. JPMorgan Chase says its annualized net income could fall $600 million. That's serious money in an environment with interest rates as low as they are.

So yes, while fees may feel unfair the reality is banks need to be able to generate healthy revenue and income. Bank of America, with all its recent struggles from Countrywide to questions about its capital levels, has even more to prove to both regulators and investors.